The yield on the 10-year government bond — what it costs the Centre to borrow for a decade, and the benchmark that quietly sets the price of money for everyone else, from home loans to company debt. When it climbs, the government’s interest bill and your EMIs feel it. Toggle the monthly average back to 2011, or the daily benchmark for the past year. OECD & FBIL data.
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10-Year government bond yield
Monthly average · December 2011 – June 2026
Reading the yield. This is the return an investor earns holding a 10-year Government of India bond to maturity — and because that debt is effectively risk-free, its yield is the benchmark off which almost every other interest rate in the country is priced. It rises when inflation or borrowing is expected to climb, or when the RBI tightens, and falls when growth worries or rate cuts loom — note the plunge to 5.8% in the COVID summer of 2020 and the 8.9% peak during the 2013–14 taper tantrum. The monthly line is the OECD’s benchmark average since 2011, extended through July–August 2026 with FBIL’s benchmark (whose monthly average tracks the OECD’s to within a basis point); the daily view is FBIL’s published 10-year par yield. Latest reading: 31 August 2026.
Source: OECD Main Economic Indicators — Long-Term (10-Year Benchmark) Government Bond Yield for India, compiled from RBI/FBIL · monthly average · PolityPolicy · India, in Numbers · by Tushar Gupta
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